What is a quit claim deed?
All real estate transactions must be in writing. A quit claim deed is one way to transfer real property such as a house, land, or certain mobile homes. The person who transfers the property by selling it or making a gift of it is called the 'Grantor'. The person the property is transferred to is called the 'Grantee'. One of the most important differences between a quit claim deed and other types of deeds is that the Grantor makes no guarantee or promises that the property is free of debt. Another difference is that the Grantor makes no promises that no one else claims to own the property. The quit claim deed says, in effect, that the Grantor is signing over whatever ownership interest he or she may have in the property. It does not even guarantee that the Grantor has any ownership interest at all. Before transferring any property, it is best to consult with a lawyer to find out all the possible consequences of the transfer in your specific circumstances. Some lawyers will provide services free of charge or for a reduced fee for low-income people. Contact your local bar association for more information.
